Tax Benifits for Donors

The Amost Better Life Foundation is an approved and registered Public Benefit Organisation (PBO) in terms of section 30 of the Income Tax Act with the South African Revenue Service (SARS).

The PBO registration number is 930029245.

Donations to Public Benefit Organisations carry certain specific tax advantages.

• The Amost Better Life Foundation has been approved for purposes of section 18A(1)(a) of the Income Tax Act and donations to the organisation will be tax deductible in the hands of the donors in terms of and subject to the limitations prescribed in section 18A of the Income Tax Act.
• Donations by or to the Amost Better Life Foundation are exempt from donations tax in terms of section 56(1)(h) of the Income Tax Act.
• Requests or accruals from the estates of deceased persons in favour of the Amost Better Life Foundation are exempt from the payment of  estate duty in terms of section 4(h)( of the Estate Duty Act, 45 of 1955.
• In terms of section 4(1)(f) of the Stamp Duties act, 1968, any instrument which is executed by or on behalf of the Amost Better Life Foundation is exempt from stamp duty, if the duty thereon would be legally payable and borne by the Amost Better Life Foundation.
• The Amost Better Life Foundation is exempt form the payment of the skills development levy in terms of section 4(c) of the Skills Development Levies Act, No 9 of 1999. 

In order to enable the Amost Better Life Foundation to issue a tax deductible receipt to the donor, the following information has to be provided to the Amost Better Life Foundation:

1. Proof of payment into the Amost Better Life Foundation bank account, clearly indicating the date and the amount of the donation.
2. Full name and address of the donor.

The Amost Better Life Foundation is in terms of the Income Tax Act obliged to ensure that the donation has been or will be used exclusively for the objects of the Amost Better Life Foundation.